The real estate sector expresses concern over proposed elimination of long-term capital gains indexation benefits, seeing it as a potential hindrance to expansion and increased tax burdens.
India's real estate market is booming. TDS applies to property transactions exceeding ₹50L. Buyers must deduct 1% TDS, deposit it with the Income Tax Dept.
The Income Tax department raided Surat's real estate developers, seizing Rs.8 lakh in cash and Rs.45 lakh in jewelry, aiming to recover around Rs.100 crore.
Ponty and Hardeep Chadha, real estate moguls, were killed during a property dispute at their farmhouse, leading to police arrests of implicated security personnel.
Income Tax officials seized large amounts of cash from Lodha Group employees, following previous raids and tax requests, highlighting ongoing investigations into financial misconduct.
The Income Tax Department has significantly expanded its real estate holdings, acquiring properties worth ₹2,500 crore across over 20 cities to enhance taxpayer services.
The Income Tax Department is investigating real estate deals in New Delhi to combat black money and tax evasion. They will scrutinize developer funding and individual transactions.
HDIL will book INR 350 crore in the remaining quarters following an Income Tax raid, denying any hidden income or tax evasion.
Twelve Pune real estate developers face scrutiny for falsely claiming Rs 65 crore in tax waivers on low-cost housing schemes. The Income Tax department plans to issue notices, impacting tax collections amidst a market slowdown.
Income-tax department to closely monitor real estate transactions over ₹30 lakh, with scrutiny triggers including gross income mismatch and large cash deposits.
Chandigarh Housing Board accused of favoring Parsvnath Developers, potentially losing hundreds of crores in revenue